|
Report Date : |
27.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
ATLAS COPCO AIRPOWER NV |
|
|
|
|
Registered Office : |
Boomsesteenweg 957 2610 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
21.06.1937 |
|
|
|
|
Com. Reg. No.: |
403992231 |
|
|
|
|
Legal Form : |
Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacture of Fluid Power Equipment |
|
|
|
|
No. of Employees |
2763 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Belgium |
A1 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
BELGIUM - ECONOMIC OVERVIEW
This modern, open, and private-enterprise-based economy has capitalized on its central geographic location, highly developed transport network, and diversified industrial and commercial base. Industry is concentrated mainly in the more heavily-populated region of Flanders in the north. With few natural resources, Belgium imports substantial quantities of raw materials and exports a large volume of manufactures, making its economy vulnerable to volatility in world markets. Roughly three-quarters of Belgium's trade is with other EU countries, and Belgium has benefited most from its proximity to Germany. In 2013 Belgian GDP grew by 0.1%, the unemployment rate increased to 8.8% from 7.6% the previous year, and the government reduced the budget deficit from a peak of 6% of GDP in 2009 to 3.2%. Despite the relative improvement in Belgium's budget deficit, public debt hovers around 100% of GDP, a factor that has contributed to investor perceptions that the country is increasingly vulnerable to spillover from the euro-zone crisis. Belgian banks were severely affected by the international financial crisis in 2008 with three major banks receiving capital injections from the government, and the nationalization of the Belgian retail arm of a Franco-Belgian bank
|
Source
: CIA |
Business number 403992231
Company name ATLAS COPCO AIRPOWER NV
Address BOOMSESTEENWEG 957
2610 ANTWERPEN
Number of staff 2683
Date of establishment 21/06/1937
Telephone number 03870 21 11
Fax number 03870 24 43
|
The business was established over 77
years ago. |
|
The business has 2763 employees. |
|
The business is part of a group. |
|
The business has been at the
address for over 2 years. |
|
The business saw a decrease in
their Cash Balance of 38% during the latest trading period. |
|
DATE OF LATEST ACCOUNTS |
TURNOVER |
PROFIT BEFORE TAX |
NET WORTH |
WORKING CAPITAL |
|
31/12/2012 |
1,638,625,874 |
422,484,815 |
3,258,915,724 |
549,260,916 |
|
31/12/2011 |
1,560,413,117 |
364,020,962 |
2,927,528,213 |
224,014,637 |
|
31/12/2010 |
1,331,494,316 |
322,671,440 |
2,610,874,093 |
-83,871,987 |
Accounts
|
||||
|
DATE OF LATEST ACCOUNTS |
BALANCE
TOTAL |
NUMBER OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2012 |
6,065,808,425 |
2,683 |
1,435,000,000 |
357,928,913 |
|
31/12/2011 |
5,737,291,158 |
2,728 |
1,435,000,000 |
339,053,601 |
|
31/12/2010 |
5,682,610,113 |
2,594 |
1,435,000,000 |
244,333,066 |
|
Past
payments |
|
Payment expectation days54.77 |
|
|
Industry average payment expectation days |
84.98 |
Industry
average day sales 100.13 outstanding |
|
|
Day sales
outstanding |
46.68 |
|
|
Business number 403992231
Company name ATLAS COPCO
AIRPOWER NV
Fax number 03870 24 43
Date founded 21/06/1937
Company status active
Company type Public Limited Liability Company (BE)
Currency Euro (€)
Date of latest accounts 31/12/2012
Activity code 28120
Liable for VAT yes
Activity description Manufacture of
fluid power equipment
|
|
|
|
|
|
Social Balance Sheet |
Total |
|
|
|
During the reporting year |
|
|
|
|
ended 31-12-2012 |
|
|
|
|
Full-time Employees |
2,506 |
|
|
|
Part-time Employees |
314 |
|
|
|
Total Fte Employees |
2,741 |
|
|
|
|
|||
|
Number of hours worked |
|||
|
Full-time Employees |
3,767,356 |
|
|
|
Part-time Employees |
331,648 |
|
|
|
Total |
4,099,004 |
|
|
|
|
|||
|
Personnel Charges |
|||
|
Full-time Employees |
177,708,537 |
|
|
|
Part-time Employees |
15,168,877 |
|
|
|
Total |
192,877,414 |
|
|
|
Benefits In Addition To Wages |
3,065,337 |
|
|
|
|
|||
|
During the previous reporting year |
|||
|
Average number employees in Fte |
2,655 |
|
|
|
Actual working hours |
3,898,572 |
|
|
|
Personnel Charges |
183,346,580 |
|
|
|
Benefits In Addition To Wages |
2,802,865 |
|
|
|
|
|||
|
|
|||
|
Type of Contract Full-Time |
Part-Time |
Total Fte |
|
|
Unlimited Duration 2,365 |
316 |
2,602 |
|
|
Contracts |
|
|
|
|
Limited Duration Contracts 81 |
1 |
82 |
|
|
Contracts For Specific - |
- |
- |
|
|
Work |
|
|
|
|
Contracts Regarding - |
- |
- |
|
|
Substitution |
|
|
|
|
|
|||
Gender and Education
|
Men |
Full-Time |
Part-Time |
Total Fte |
|
|
Primary
education |
22 |
12 |
31 |
|
|
Secondairy
education |
1,344 |
169 |
1,472 |
|
|
Higher education (non university) |
513 |
24 |
530 |
|
|
Higher
education (university) |
317 |
5 |
320 |
|
|
Women |
Full-Time |
Part-Time |
Total Fte |
|
|
Primary
education |
1 |
- |
1 |
|
|
Secondairy
education |
73 |
49 |
112 |
|
|
Higher education
(non university) |
76 |
35 |
99 |
|
|
Higher
education (university) |
100 |
23 |
118 |
|
|
|
||||
|
|
||||
|
Working
Category |
Full-Time |
Part-Time |
Total Fte |
|
|
Management |
11 |
- |
11 |
|
|
White
collar worker |
1,174 |
129 |
1,271 |
|
|
Blue collar
worker |
1,261 |
188 |
1,402 |
|
|
Other - - - |
||||
|
|
||||
|
|
||||
|
r Temporary
personnel |
|
Total |
|
|
|
Average
number of temporary staff |
50 |
|
|
|
|
Actual working
hours |
|
98,253 |
|
|
|
Cost of
temporary staff |
|
1,878,077 |
|
|
|
|
||||
|
|
||||
|
New staff
and leavers |
Full-Time |
Part-Time |
Total Fte |
|
|
New
Starters |
198 |
- |
198 |
|
|
Leavers |
223 |
15 |
234 |
|
|
Total of formal
continuing vocational training initiatives for workers paid by the employer |
Male |
Female |
|
Number of
employees |
2,050 |
311 |
|
Number of
training hours |
51,995 |
9,741 |
|
Net costs for enterprise |
5,085,704 |
59,697 |
|
Total of less formal and informal
continuing vocational training initiatives for workers paid by the employer |
Male |
Female |
|
Number of
employees |
169 |
28 |
|
Number of
training hours |
24,798 |
2,780 |
|
Net costs
for enterprise |
809,920 |
91,107 |
|
Total of
initial training initiatives at the expense of the employer |
Male |
Female |
|
Number of
employees
- - |
||
|
Number of
training hours
- - |
||
|
Net costs
for enterprise
- - |
||
|
JIC Code |
111 |
|
Description |
JC for the
metal, machinery and electrical construction |
|
category |
|
|
JIC Code |
209 |
|
Description |
Joint
committee for the employees off the metal industry |
|
category |
|
Significant Events
|
|
|
Event Date |
11/06/2014 |
|
Event Description |
re-appointment
of director(s) |
|
Event Details |
Commentaar 11-06-2014:
Herbenoemd als bestuurders voor de duur van een jaar: Ronnie Leten, Nico
Delvaeux en Alex Bongaerts. |
|
Annual
accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Turnover |
1,638,625,874 |
5.01 |
1,560,413,117 |
17.19 |
1,331,494,316 |
80,523,375 |
1934 |
|
Total
operating expenses |
1,159,019,987 |
3.01 |
1,125,121,940 |
16.00 |
969,924,776 |
59,726,908 |
1840 |
|
Operating
result |
479,605,887 |
10.18 |
435,291,177 |
20.39 |
361,569,540 |
6,873,694 |
6877 |
|
Total
financial income |
11,644,659 |
81.27 |
6,423,868 |
-77.66 |
28,760,782 |
206,185 |
5547 |
|
Total
financial expenses |
68,765,732 |
-11.49 |
77,694,083 |
14.83 |
67,658,881 |
1,031,502 |
6566 |
|
Results on
ordinary operations before taxation |
422,484,815 |
16.06 |
364,020,962 |
12.81 |
322,671,440 |
6,048,385 |
6885 |
|
Taxation |
86,803,574 |
99 |
43,540,048 |
-59.81 |
108,333,436 |
1,703,023 |
4997 |
|
Results on
ordinary operations after taxation |
335,681,241 |
4.74 |
320,480,914 |
49.52 |
214,338,004 |
4,765,286 |
6944 |
|
Extraordinary
items |
-138,007 |
-141 |
332,051 |
-95.67 |
7,670,156 |
-7,314 |
-1786 |
|
Other
appropriations |
0.00 |
- |
0.00 |
- |
0.00 |
- |
- |
|
Net result |
335,543,234 |
4.59 |
320,812,965 |
44.51 |
222,008,160 |
4,759,044 |
6950 |
|
OTHER INFORMATION |
|
|
|
|
|
|
|
|
Gross
Operating Margin |
- |
- |
- |
- |
- |
362,719 |
- |
|
Dividends |
- |
- |
- |
- |
300,000,000 |
502,996 |
- |
|
Employee
costs |
198,475,532 |
4.75 |
189,473,482 |
12.43 |
168,528,788 |
4,995,810 |
3872 |
|
Wages and
salary |
120,102,235 |
5.86 |
113,455,216 |
10.82 |
102,381,067 |
3,191,908 |
3662 |
|
Employee
pension costs |
5,598,118 |
- |
6,126,902 |
- |
6,466,802 |
707,452 |
691 |
|
Social
security contributions |
50,682,545 |
4.10 |
48,688,268 |
16.60 |
41,754,907 |
1,302,748 |
3790 |
|
Other
employee costs |
22,092,634 |
4.20 |
21,203,096 |
18.28 |
17,926,012 |
358,874 |
6056 |
|
Amortization
and |
22,385,678 |
22.72 |
18,240,637 |
-18.29 |
22,324,906 |
466,215 |
4701 |
|
depreciation |
|
|
|
|
|
|
|
|
Annual
accounts |
31-12-2012 |
% |
31-12-2011 |
% |
31-12-2010 |
Industry average 2012 |
% |
|
Weeks |
52 |
|
52 |
|
52 |
|
|
|
Currency |
EUR |
|
EUR |
|
EUR |
|
|
|
Intangible
fixed assets |
36,105,231 |
- |
31,949,508 |
- |
27,790,663 |
535,528 |
6641 |
|
Tangible
fixed assets |
40,670,267 |
-1.07 |
41,109,637 |
10.70 |
37,136,977 |
1,487,098 |
2634 |
|
Land & building |
20,543,885 |
-5.81 |
21,810,550 |
-2.91 |
22,463,553 |
928,087 |
2113 |
|
Plant & machinery |
18,851,983 |
2.36 |
18,417,405 |
30.67 |
14,094,165 |
804,795 |
2242 |
|
Furniture & Vehicles |
1,274,400 |
44.54 |
881,682 |
52.21 |
579,259 |
75,099
22,900 |
1596 |
|
Leasing & Other Similar Rights |
- |
- |
- |
- |
- |
867,910
83,227 |
- |
|
Other tangible assets |
0 |
- |
0 |
- |
0 |
28,373 |
-100 |
|
Financial
fixed assets |
5,121,600,000 |
0.00 |
5,121,602,175 |
0 |
5,121,602,175 |
123,181,994 |
4057 |
|
Total fixed
assets |
5,198,375,498 |
0.07 |
5,194,661,320 |
0.16 |
5,186,529,815 |
78,057,523 |
6559 |
|
Inventories |
126,384,441 |
-4.49 |
132,323,333 |
36.48 |
96,955,696 |
3,738,438 |
3280 |
|
Raw materials & consumables |
42,719,277 |
-13.16 |
49,192,378 |
54.67 |
31,805,462 |
4,843,061 |
782 |
|
Work in progress |
25,498,295 |
3.51 |
24,634,725 |
38.82 |
17,746,121 |
743,835 |
3327 |
|
Finished goods |
58,166,868 |
-0.56 |
58,496,230 |
23.40 |
47,404,113 |
1,123,663 |
5076 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
132,066 |
-100 |
|
Trade
debtors |
209,572,433 |
19.39 |
175,535,588 |
18.30 |
148,376,002 |
4,260,812 |
4818 |
|
Cash |
199,766 |
-38.90 |
326,950 |
6.72 |
306,351 |
230,523 |
-13.34 |
|
other
amounts receivable |
529,179,032 |
127 |
232,405,737 |
-6.40 |
248,298,635 |
7,554,190 |
6905 |
|
Miscellaneous current assets |
2,097,255 |
2.90 |
2,038,230 |
-4.92 |
2,143,613 |
97,637 |
2048 |
|
Total
current assets |
867,432,927 |
59.86 |
542,629,839 |
9.38 |
496,080,298 |
14,799,844 |
5761 |
|
Total
Assets |
6,065,808,425 |
5.73 |
5,737,291,158 |
0.96 |
5,682,610,113 |
87,510,961
771,922 |
6831 |
|
□ |
Trade creditors |
173,926,036 |
-7. 11 |
187,231,970 |
7.56 |
174,068,180 |
3,347,520 |
5095 |
|
Short term
group loans - - - - - - - |
||||||||
|
|
Financial debts |
- |
- |
- |
- |
- |
890,549 265,967 |
- |
|
|
Current portion of long term debt |
- |
- |
- |
- |
- |
141,784
33,026 |
- |
|
|
Amounts
Payable for Taxes, Remuneration & Social Security |
119,828,786 |
23.52 |
97,009,506 |
24.94 |
77,647,347 |
63,562 - |
5628 |
|
|
Miscellaneous
current liabilities |
24,417,189 |
-28.97 |
34,373,725 |
-89.53 |
328,236,758 |
1483 |
— |
|
|
Total current liabilities |
318,172,011 |
-0.14 |
318,615,202 |
-45.06 |
579,952,285 |
7,030,807 |
4425 |
|
|
LONG TERM DEBTS AND LIABILITIES |
|
|
|
|
|
|
|
|
|
Long term group loans |
- |
- |
- |
- |
- |
- |
-- |
|
|
Other long term loans |
2,386,000,000 |
0 |
2,386,000,000 |
0 |
2,386,000,000 |
3737 |
-- |
|
|
D effered taxes |
- |
- |
- |
- |
- |
63,401 2,930 |
- |
|
|
Provisions for Liabilities &
Charges |
66,615,460 |
-8.99 |
73,198,236 |
-6.15 |
77,993,072 |
1,008,144 0 |
6507 |
|
|
Other long term liabilities |
0 |
- |
0 |
- |
0 |
18,276 |
-100 |
|
|
Total long term debts |
2,452,615,460 |
-0.27 |
2,459,198,236 |
-0.19 |
2,463,993,072 |
34,254,871 |
7059 |
|
SHAREHOLDERS
EQUITY |
||||||||
|
|
Issued share capital |
1,435,000,000 |
0 |
1,435,000,000 |
0 |
1,435,000,000 |
20,108,461 |
7036 |
|
|
Share premium account |
- |
- |
- |
- |
- |
4,700 |
- |
|
|
Reserves |
1,860,020,955 |
22.01 |
1,524,477,721 |
26.65 |
1,203,664,756 |
26,112,623 |
7023 |
|
|
Revaluation reserve |
- |
- |
- |
- |
- |
70,776 |
- |
|
|
Total shareholders equity |
3,295,020,955 |
11.34 |
2,959,477,721 |
12.16 |
2,638,664,756 |
46,225,284 |
7028 |
|
|
Working capital |
549,260,916 |
145 |
224,014,637 |
267 |
-83,871,987 |
7,769,037 |
6969 |
|
|
Cashflow |
357,928,913 |
5.57 |
339,053,601 |
38.77 |
244,333,066 |
5,174,167 |
6817 |
|
|
Net worth |
3,258,915,724 |
11.32 |
2,927,528,213 |
12.13 |
2,610,874,093 |
45,689,755 |
7032 |
|
|
||||||||
|
|
Annual accounts |
31-12-2012 |
change(%) |
31-12-2011 |
change(%) |
31-12-2010 |
Industry average 2012 |
% |
|
TRADING
PERFORMANCE |
||||||||
|
|
||||||||
|
|
Profit Before Tax |
25.78 |
10.50 |
23.33 |
-3.71 |
24.23 |
1.495,00 |
-98.28 |
|
|
Return on capital
employed |
7.35 |
9.38 |
6.72 |
6.33 |
6.32 |
-55.452,00 |
0.01 |
|
|
Return on
total assets employed |
6.97 |
9.94 |
6.34 |
11.62 |
5.68 |
2,00 |
248 |
|
|
Return on
net assets employed |
12.82 |
4.23 |
12.30 |
0.57 |
12.23 |
17,00 |
-24.59 |
|
|
Sales / net working capital |
2.98 |
-57.25 |
6.97 |
43.89 |
-15.88 |
2,00 |
-99 |
|
|
Stock turnover ratio |
7.71 |
-9.08 |
8.48 |
16.48 |
7.28 |
17,00 |
-54.65 |
|
|
Debtor days |
46.68 |
13.69 |
41.06 |
0.96 |
40.67 |
111,00 |
-57.95 |
|
|
Creditor days |
54.77 |
-9.83 |
60.74 |
-7.27 |
65.50 |
72,00 |
-23.93 |
|
SHORT TERM
STABILITY |
||||||||
|
|
Current ratio |
2.73 |
60.59 |
1.70 |
97.67 |
0.86 |
3,00 |
-31.75 |
|
|
Liquidity ratio / acid ratio |
2.33 |
80.62 |
1.29 |
86.96 |
0.69 |
2,00 |
16.50 |
|
|
Current debt ratio |
0.10 |
-9.09 |
0. 11 |
-50.0 |
0.22 |
4,00 |
-97.50 |
|
|
Liquidity ratio reprocessed |
- |
- |
- |
- |
- |
- |
- |
|
LONG TERM
STABILITY |
||||||||
|
|
Gearing |
72.41 |
-10.18 |
80.62 |
-10.84 |
90.42 |
260,00 |
-72.15 |
|
|
Equity in percentage |
54.65 |
5.36 |
51.87 |
11.17 |
46.66 |
69,00 |
-20.80 |
|
|
Total debt ratio |
0.84 |
-10.64 |
0.94 |
-18.26 |
1.15 |
6,00 |
-86.00 |
Industry comparison
|
||
|
Activity
code |
28120 |
|
|
Activity
description |
Manufacture
of fluid power equipment |
|
|
industry average credit rating |
69.90 |
|
|
Industry average credit limit |
250487.07 |
|
Total number of Invoices available_______________________________________________________________ 98
Total number of Invoices paid within or
up to 30 days after the due date______________________________ 28
Total number of Invoices paid more
than 30 days after the due date__________________________________ 41
Total number
of Invoices currently outstanding where the due date has not yet been
reached___________ 11.
Total number of Invoices currently outstanding
beyond the due date_________________________________ 18
Payment expectation days 54.77
Day sales outstanding 46.68
|
Activity
code |
28120 |
|
Activity
description |
Manufacture of fluid power
equipment |
|
Industry average payment
expectation days |
84.98 |
|
Industry average day sales
outstanding |
100.13 |
|
Industry
quartile analysis |
|
|
Payment
expectations |
|
|
Company
result |
54.77 |
|
Lower |
108.29 |
|
Median |
85.58 |
|
Upper |
58.81 |
|
Day sales outstanding |
|
|
Company
result |
46.68 |
|
Lower |
92.22 |
|
Median |
54.31 |
|
Upper |
35.27 |
|
Summary |
|
|
Group -
Number of Companies |
6 |
|
Linkages -
Number of Companies |
163 |
|
Number of
Countries |
46 |
|
Group
Structure |
|||
|
Company
name |
Number |
Latest financials |
|
|
- - ATLAS
COPCO AIRPOWER NV |
403992231 |
31-12-2012 |
|
|
----- ATLAS COPCO FINANCE EUROPE NV |
439928751 |
31-12-2013 |
|
|
----- ATLAS COPCO RENTAL EUROPE NV |
452503614 |
31-12-2013 |
|
|
- - ATLAS COPCO FINANCE BELGIUM
BVBA |
821054421 |
31-12-2013 |
|
|
- - INTERNATIONAL COMPRESSOR
DISTRIBUTION NV |
443607625 |
31-12-2012 |
|
Minority Shareholders
No minority shareholders found
Minority Interests
No minority interests found
Group -
Number of Companies 6
Linkages - Number of Companies 163
Number of
Countries 46
Business number 403992231
Bankruptcy details
There is no bankruptcy data against this company
court data
there is no data for this company
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.24 |
|
|
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.77.97 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.